Navient and Student Loan Forgiveness Programs
Due to Navient’s partnership with the Department of Education, there are several Navient student loan forgiveness programs available to eligible borrowers.
Navient and Public Service Loan Forgiveness (PSLF)
If you have qualifying student loans and you work in the public sector, you could be eligible for Public Service Loan Forgiveness (PSLF). This includes anyone working full-time in AmeriCorps or as a Peace Corps volunteer.
In addition to working in the public sector, you’ll also need to make 120 on-time payments on your eligible loans to qualify for the PSLF program. But once you’ve met all the requirements, you may be eligible to have your student loans forgiven.
Even if you’ve been denied for PSLF before, the new Temporary Expanded Public Service Loan Forgiveness (TEPSLF) might be able to help you get your student loan balance wiped away for good.
Because most PSLF applications are handled by FedLoan Servicing, any Navient will be moved to FedLoan once you’ve met the program’s requirements.
Navient and Teacher Loan Forgiveness
Qualifying for Teacher Loan Forgiveness requires having certain loans and meeting specific job-related requirements. However, if you meet these requirements, you could earn up to $17,500 towards the balance of your Direct Loan or FFEL program loans.
Requirements for Navient Teacher Loan Forgiveness include teaching full-time at a low-income school or educational service agency.
Upon meeting the qualifications for Teacher Loan Forgiveness, your loans will be moved to FedLoan Servicing, who largely manages the program for the DOE.
Are you a teacher with a Perkins Loan? You might also qualify for a Perkins Loan Cancellation if other requirements are met. You can learn more about a Perkins Loan Cancellation for teachers and other student loan forgiveness programs for teachers here.
Navient and Total and Permanent Disability (TPD) Discharge
If you’re a disabled U.S. military veteran, or you’re a borrower who’s been permanently disabled, you could be eligible for the Total and Permanent Disability (TPD) Discharge.
To qualify for the TPD Discharge through Navient, you’ll need to prove your disabled status through Veterans Affairs, your doctor, or the Social Security Administration. Then once your paperwork is approved, your loans will be moved to Nelnet, who serves as the DOE’s exclusive TPD Discharge servicer.
Navient and Other Student Loan Discharges
Depending on your circumstances, you might be eligible for other student loan discharge programs. Available Navient student loan discharge programs include:
- School closure discharge
- False certification discharge
- Unpaid refund discharge
A student loan discharge could release you from your obligation to pay back your student loans.
Navient and Income-Driven Repayment Plans
Many of Navient’s student loan forgiveness programs require certain loan types to ensure borrowers are eligible. If your loans don’t qualify for loan forgiveness, you might consider switching your loans to a more favorable income-driven repayment plan. These include:
- Income-Based Repayment (IBR) Plan
- Pay As You Earn (PAYE) Repayment Plan
- Revised Pay As You Earn (REPAYE) Repayment Plan
- Income-Contingent Repayment (ICR) Plan
- Income-Sensitive Repayment (ISR) Plan
Income-driven repayment plans typically offer lower monthly payments, longer repayment periods, and may qualify you for one or more student loan forgiveness programs that can help you become debt-free.